Question

Journalise the following transactions:
(i) Rahman who owes us ₹2,000 Was declared insolvent and paid 40 paisa in a rupee.
(ii) Received cash from Gopal ₹400 whose account was written off as bad debt last year.
(iii) Goods worth ₹ 1500 and cash amounting ₹ 500 were given for charity.
(iv) Goods costing ₹ 3000 was damaged by fire and insurance company admitted a claim of ₹ 2000.

Answer 1

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